Bank of America, Gympass and Headspace add new benefits

Long story short: Take every opportunity to support employees with your benefits

February 17, 2023 10:05 AM

We may be well into the new year, but there's always an opportunity to launch fresh employee benefits.

In this week's top stories, a variety of employers and benefit platforms are expanding their services to help more employees with day-to-day needs. Well-being platform Gympass is now teaming up with popular mindfulness and meditation app Headspace to offer employees and employer clients access to mental wellness tools. To combat persistent financial stress and create a sense of ownership among employees, a program by Ally Bank is helping employees pad their stock portfolios with 100 free shares of company stock.

Employees' needs are diverse, and your employee benefits need to be, too. Check out all of our top stories to see the innovative ways employers are navigating benefits this year, and be sure to check out a brand new season of our podcast, Perk Up! Our most recent episode looks into education benefits at Bank of America and how they are changing the lives of their employees and their families.

Mind-body connection: Gympass adds Headspace to employee benefits plan

At well-being benefit platform Gympass, a recent partnership with mindfulness and meditation app Headspace is helping employees connect their mental and physical selves. Headspace will now be available to Gympass's own employees, as well as their 10,000 employer partners, providing meditation tools, sleep help and other mindfulness exercises.

"Just like we exercise daily to strengthen our muscles to be strong and healthy, a daily mindfulness practice helps us cultivate that resilience, emotionally and mentally," says Desiree Pascual, chief people officer at Headspace. "When we're in a time of crisis or change, being able to come from a place of mental and emotional resilience expands our capacity to show up with curiosity, which leads to opportunity, rather than burnout."

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Mind-body connection: Gympass adds Headspace to employee benefits plan

At Ally, financial wellness benefits include 100 free shares of stock

Stock purchasing options are a great way to sweeten employee benefits, but they're not always within financial reach for every worker. Which is why Ally Financial took a more direct approach: Each employee at the bank receives 100 shares of company stock through the #OwnIt program.

"Many companies offer a stock purchase plan, but this was really different," Gwen Gollmer, Ally's executive director of benefits, tells editor Lee Hafner. "Not only is this great for them, but it drives business results and it also drives shareholder value." Gollmer breaks down the program and how these stock shares are paying off for their employees.

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At Ally, financial wellness benefits include 100 free shares of stock

Quantum and Cariloop team up to offer more resources for working caregivers

In recognition of the growing need to assist working caregivers, healthcare navigation platform Quantum Health has partnered with Cariloop to offer a full spectrum of caregiving support to its members through a single point of access. Together, they now make up an integrated platform that offers a combination of digital tools and compassionate experts who go the extra mile for those looking after their loved ones.

"Quantum already understands the importance of integrating caregiving support with a comprehensive offering," Julie Devine, Cariloop's chief growth officer, tells editor Lee Hafner. "We can bring these services together to create a more holistic experience for the members — we now have a village instead of just a single warrior."

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Quantum and Cariloop team up to offer more resources for working caregivers

PERK UP! Getting schooled

Typically, you leave school behind once you join the workforce, but the modern employee wants more than just a paycheck from their nine to five. They're looking for personal fulfillment, a supportive community and opportunities to continue learning and growing.

In our second season of EBN's podcast, Perk Up!, editor-in-chief Stephanie Schomer explores how Bank of America's education and tuition reimbursement programs are supporting their employees and their employees' families.

Listen:

PERK UP! Getting schooled